Private Equity Barometer H1 2026 (Finnish Venture Capital Association (Paaomasijoittajat))

Summary

• The survey collected responses from 80 employees across at least 30 private equity firms in Finland.p.3
• The overall heat index for the Finnish private equity market stands at -0,7, indicating a neutral sentiment.p.4
• Among all surveyed private equity investors, 42 % of portfolio companies are located in Finland and 38 % in Nordic and Baltic countries.p.8
• For venture capital investors, 44 % of portfolio companies are based in Finland and 34 % in Nordic and Baltic countries.p.14
• Buyout investors report that 76 % of their portfolio companies are located in Finland.p.21
• Growth investors report that 59 % of their portfolio companies are in Finland, while 36 % have fund sizes between 40 - 100 €m.p.27

Key insights

1. The survey was conducted by the Finnish Venture Capital Association between March 16 and March 20, 2026.p.3
2. The overall market sentiment in the Finnish private equity market remains neutral with a heat index score of -0,7.p.4
3. Among all surveyed private equity investors, 28 % have a latest fund size exceeding €200m.p.8
4. Venture capital investors expect the exit market to reopen despite currently remaining partly frozen.p.17
5. International co-investors' activity among venture capital investors is showing initial signs of recovery.p.18
6. Buyout investors report a weakened outlook for fundraising.p.22
7. Buyout investors anticipate a clear improvement in investment opportunities following recent weakening.p.23
8. Growth investors expect an improvement in growth fundraising conditions.p.28
9. M&A expectations among growth investors remain strong.p.31
10. Responses are converted into numerical balance scores ranging from -100 to +100 according to Statistics Finland guidelines.p.32